IRS Medical Mileage on the Medical Expense Deduction. Much like the mileage deduction, you can use two methods to calculate car-related expenses for this deduction. The actual expense method lets you include out-of-pocket expenses like gas and oil.
Disregarded Entity Definition - What is a Disregarded Entity? What is a disregarded entity? A disregarded entity is a business entity which is considered to be an undivided part of the owner of the entity for federal tax purposes. That is, the entity is disregarded as an entity separate from the owner.
One consequence of owning a disregarded entity LLC is that it most likely makes you liable for self-employment tax. In essence, however, this is only a shifting of what would ordinarily be the employer's share of Medicare and Social Security tax to the owner of the business. If you receive more than $400 from your disregarded entity LLC, you will have to pay self-employment tax on your personal Form 1040.